The euro steadied near a two-week high against the dollar on Wednesday, as investors in Asia hesitated to chase its short-covering rally further, while higher yielding currencies stalled after rallying alongside stocks. The euro paused ahead of resistance at $1.2350-55 although traders and chartists said it still had scope to extend its gains after a
More
Russia is amongst the largest foreign investors in Cyprus, Minister of Commerce, Industry and Tourism Antonis Paschalides has said. Addressing Tuesday the Moscow Business Forum, in Russia, the Minister said that the value of Russian investments in Cyprus reached €2 billion in 2008, whereas the value of Cypriot investments in Russia during the same year
More
Cyprus Airways (CA), Cyprus' national carrier, received a new Airbus A320, as part of a planed fleet renewal. Cyprus Airways announced that the new Airbus, the third A320 CA received this year, named ''Amathous'' has already begun flight operations. The aircraft has exactly the same characteristics with the other new A320 received this year, ''Lefkosia'',
More
Deputy Minister of Culture and Tourism of Greece Georgios Nikitiades, referring to the memorandum of cooperation to be signed between the two countries, said that relations between the Ministries of Culture of Cyprus and Greece will be embarking on a new course. Nikitiades was speaking after a meeting on Tuesday with Cypriot Minister of Education
More
The European Commission concluded on Tuesday on the existence of excessive deficits in Cyprus, Denmark and Finland and recommended deadlines for their correction to the Council. In a press release, the Commission notes that, according to data notified by the Cypriot authorities in April 2010, the general government deficit in Cyprus reached 6.1% of GDP
More
Jan. 2010 – Greece unveils stability programme on Jan. 14, saying it will aim to cut its budget gap to 2.8 percent of GDP in 2012 from 12.7 percent in 2009. Feb. 2010 – Prime Minister George Papandreou says on Feb. 2 the government will extend a public sector wage freeze to those making below
More
Turnover in the general services sector rose by a revised 0.9% over the year earlier in January – March 2010, compared with an earlier estimate that reported a 0.6% decline. The general turnover index does not refer to the entire services sector. The main difference was an upward revision to legal and accounting activities. Legal
More
Tourism arrivals in Cyprus rebounded in May after a plunge in April that was exacerbated by the volcanic ash episode. On the basis of the results of the Passengers Survey, arrivals of tourists reached 258,014 in May 2010 compared with 246,546 in May 2009, recording an increase of 4.7%. An increase of 42.5% was recorded
More
French President Nicolas Sarkozy bowed to German demands for tougher European budget rules as a steep downgrade of Greece's credit rating and distress signals from some Spanish banks put new pressure on the euro zone. After talks in Berlin late on Monday, Sarkozy accepted a German proposal that euro zone states which persistently breach budget
More
Weaker demand and measures to boost competition will help contain Greece's rising consumer inflation, Finance Minister George Papaconstantinou was on Tuesday quoted as saying. Greek consumer inflation jumped to a 13-year high of 5.4 percent year-on-year in May, straining household budgets and efforts to restore price competitiveness in the debt-laden country, struggling with a deepening
More